Pagaya Technologies Ltd. (PGY) closed at $21.03 in the latest trading session, marking a -2.16% move from the prior day. This change lagged the S&P 500's 0.45% loss on the day. Meanwhile, the Dow experienced a drop of 0.63%, and the technology-dominated Nasdaq saw a decrease of 0.78%.
Heading into today, shares of the company had gained 2.68% over the past month, outpacing the Finance sector's loss of 2.1% and the S&P 500's loss of 1.99%.
The investment community will be paying close attention to the earnings performance of Pagaya Technologies Ltd. in its upcoming release. The company's earnings per share (EPS) are projected to be $0.97, reflecting a 4.9% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $382.55 million, up 9.25% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.72 per share and revenue of $1.47 billion, which would represent changes of +12.39% and +13.01%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Pagaya Technologies Ltd. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Pagaya Technologies Ltd. is currently a Zacks Rank #1 (Strong Buy).
Valuation is also important, so investors should note that Pagaya Technologies Ltd. has a Forward P/E ratio of 5.78 right now. This valuation marks a discount compared to its industry average Forward P/E of 11.74.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 159, finds itself in the bottom 36% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Pagaya Technologies Ltd. (PGY): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).